Primech subsidiary secures $8.3 million contract extension

Primech A&P, a subsidiary of Primech Holdings Limited (NASDAQ: PMEC), announced Tuesday a two-year contract extension worth S$10.65 million ($8.3 million) to provide cleaning services at an institution in Singapore.

The contract extension will see Primech A&P continue delivering comprehensive cleaning services for the unnamed institution through 2027. Singapore-based Primech Holdings operates as a technology-driven facility services provider serving both public and private sectors.

"This S$10.65 million contract extension validates our strategic focus on high-value institutional partnerships and demonstrates the strength of our service delivery model," said Ken Chang, Head of Operations at Primech A&P. "The client's decision to renew for an additional two years provides us with strong revenue visibility and reflects our ability to exceed performance expectations consistently."

Primech A&P provides facility maintenance services, specialized cleaning solutions including marble polishing and facade cleaning, stewarding services, and cleaning services for offices and homes. The subsidiary focuses on institutional cleaning services within Singapore's facility services market.

The contract renewal represents continued business from an existing client, providing recurring revenue for the publicly traded parent company. Primech Holdings integrates technology solutions and sustainability practices into its service delivery model across its operations in Singapore.

Information in this article is based on a company press release.

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